Leading Independent Investment Research, Morningstar, Inc.

Morningstar

Leading Independent Investment Research

Morningstar, Inc.

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. We offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors. 

Morningstar provides data on more than 500,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 16 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries, with more than $180 billion in assets under advisement or management as of June 30, 2015. We have operations in 27 countries.

Download the Morningstar Fact Sheet : http://corporate.morningstar.com/US/documents/MarketingFactSheets/AboutMorningstarFactsheet.pdf

Equity Bottom-Up

<ul><li class="p1">Tokyo Electron Ltd. is a key vendor of semiconductor fabrication tools, operating primarily in the etch, deposition, and clean segments, which involve adding and removing materials to semiconductor wafers.</li><li class="p1">We believe TEL's relatively diverse product portfolio will allow it to comfortably weather business cycles over time, allowing the firm to maintain its current R&amp;D levels and experience decent growth over the long term, thus justifying a narrow economic moat.</li></ul>Analyst: Abhinav Davuluri

Tokyo Electron Ltd. is a key vendor of semiconductor fabrication tools, operating primarily in the etch, deposition, and clean segments, which involve adding and removing materials to semiconductor wafers.We believe TEL's relatively diverse product portfolio will allow it to comfortably weather business cycles over time, allowing the firm to maintain its current R&amp;D levels and experience decent growth over the long term, thus justifying a narrow economic moat.Analyst: Abhinav Davuluri

Initiating Coverage on Tokyo Electron Ltd

Public Relations and Social Media Manager, Dechert LLP

Peggy Heffner

Public Relations and Social Media Manager

Dechert is a global specialist law firm

Dechert LLP

Dechert is a global specialist law firm.
Focused on sectors with the greatest complexities, legal intricacies and highest regulatory demands, we excel in delivering practical commercial judgment and deep legal expertise for high-stakes matters.

Our work is widely recognized. We have 20 standout practices noted by Chambers Global, including global-wide rankings for arbitration, corporate investigations, anti-corruption, investment funds and life sciences. Named Antitrust Team of the Year, Chambers USA commends our “accomplished group” as “routinely sought after to handle some of the most significant litigation and transactions in the antitrust world.” 

In an increasingly challenging environment, clients look to us to serve them in ways that are faster, sharper and leaner without compromising excellence. We developed a first-of-its kind legal project management department, which uses technology, people and processes to drive efficiency and deliver value for our clients.

We are innovators. Dechert ranked #7 in the Financial Times’ Top North American Innovative Law Firms. Financial Times also recognizes us among the Top European Innovative Law Firms and highly commends World Compass, our marketing compliance service, which offers investment firms advice in more than 100 jurisdictions.

Event-Driven

Significant antitrust merger investigations in the United States took an average of 9.6 months in 2015, more than a third longer than the average just two years ago, according to DAMITT, the Dechert Antitrust Merger Investigation Timing Tracker.Federal enforcement activity resulted in 37 significant merger investigations, seven of which generated complaints seeking to block proposed deals and 24 of which were resolved by consent orders. Each of these figures was a record for the five years during which DAMITT has been tracking antitrust merger investigations.Antitrust merger investigation activity is up, and investigations are taking longer than ever to complete.

Significant antitrust merger investigations in the United States took an average of 9.6 months in 2015, more than a third longer than the average just two years ago, according to DAMITT, the Dechert Antitrust Merger Investigation Timing Tracker.Federal enforcement activity resulted in 37 significant merger investigations, seven of which generated complaints seeking to block proposed deals and 24 of which were resolved by consent orders. Each of these figures was a record for the five years during which DAMITT has been tracking antitrust merger investigations.Antitrust merger investigation activity is up, and investigations are taking longer than ever to complete. 

Dechert Antitrust Merger Investigation Reports Record Duration of U.S. Merger Investigations in 2015

M&A Reporting, CTFN

Jonathan Spitzer

M&A Reporting

CTFN

Bringing the marketplace leading coverage of mergers, events, and major corporate actions, CTFN has a team of seasoned reporters from Los Angeles to London, publishing news that advances stories that matter to event-driven investors and deal professionals.

Lam Research&rsquo;s acquisition of KLA-Tencor should not likely see delays from antitrust regulators, according to Jonathan Gleklen, partner at Arnold &amp; Porter, counsel for Lam, who spoke with <a href="http://ctfn.news" target="_blank">CTFN</a>&nbsp;about the matter.

Lam Research&rsquo;s acquisition of KLA-Tencor should not likely see delays from antitrust regulators, according to Jonathan Gleklen, partner at Arnold &amp; Porter, counsel for Lam, who spoke with CTFN&nbsp;about the matter.

Lam Counsel Sees No Delays with KLA-Tencor Merger

United States

Lam Research Corporation manufactures, markets, and services semiconductor processing equipment used in the making of integrated circuits.  The Company's products are used to deposit special films on a silicon wafer and etch away portions of various films to create a circuit design.  Lam sells its products around the world.

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Lam Research (LRCX US)

Initiating Coverage on Tokyo Electron Ltd

Tokyo Electron Ltd. is a key vendor of semiconductor fabrication tools, operating primarily in the etch, deposition, and clean segments, which...

Morningstar, Inc.

Dechert Antitrust Merger Investigation Reports Record Duration of U.S. Merger Investigations in 2015

Significant antitrust merger investigations in the United States took an average of 9.6 months in 2015, more than a third longer than the average...

Dechert LLP

Lam Counsel Sees No Delays with KLA-Tencor Merger

Lam Research’s acquisition of KLA-Tencor should not likely see delays from antitrust regulators, according to Jonathan Gleklen, partner at Arnold...

CTFN

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